“It remains unclear whether developer condo sales of boom-era units are slowing as a direct result of the wave of new projects being proposed for Sunny Isles Beach,” he wrote.

“The unanswered question.. is whether buyers will prefer to purchase units built during the last condo boom…instead of new units.”

Some 280 condo units – about four percent of the more than 6,400 units built in Sunny Isles Beach during South Florida’s last boom-and-bust cycle, from 2003 to 2008 – remain unsold, the report said. [condovultures.com] –Emily Schmall